In 2010, these 10 Louisiana Corps generated a Total Pretax Income of $3.0 bil, up a robust 44% over the 2009 Total Pretax Income of $2.1 bil.
The well-run CenturyLink was the main driver of this exceptional earnings increase in 2010.
So what happened in 2011? Well, these 10 Louisiana Corps generated a Total Pretax Income of $2.7 bil, down 8% from 2010.
Shaw Group was the main reason for this earnings decline in 2011.
In deriving Pretax Income, I start with Pretax Income under Generally Accepted Accounting Principles (GAAP), and then exclude several clearly unusual very large items relative to Pretax Income, such as Asset Impairments, and Gains and Losses on both Debt Retirements and Asset Dispositions. I also excluded from Pretax Income CenturyLink’s acquisition and acquisition integration costs and Shaw Group’s Foreign Currency Translation Losses.
Below here is the Pretax Income (PTI) and Pretax Loss (PTL) of these 10 Louisiana Corps for each of the most recent three years, with the most recent fiscal year ends ranging from August 2011 to March 2012.
| PTI(L) | PTI(L) | ||||
| % | % | ||||
| Change | Change | ||||
| PTI(L) | PTI(L) | PTI(L) | 2011 | 2010 | |
| 2011 | 2010 | 2009 | vs | vs | |
| mils $s | mils $s | mils $s | 2010 | 2009 | |
| Louisiana | |||||
| CenturyLink | 1,413 | 1,654 | 1,089 | -15% | 52% |
| Albemarle | 551 | 392 | 160 | 41% | 145% |
| Stone Energy | 303 | 153 | 174 | 98% | -12% |
| Superior Energy Services | 268 | 157 | 89 | 71% | 76% |
| Pool | 117 | 95 | 79 | 23% | 20% |
| Amedisys | 101 | 203 | 229 | -50% | -11% |
| Tidewater | 93 | 135 | 284 | -31% | -52% |
| Lamar Advertising | 5 | (52) | (103) | 110% | 50% |
| McMoRan Exploration | (27) | (19) | (157) | -42% | 88% |
| Shaw Group | (94) | 263 | 227 | -136% | 16% |
| Total all 10 | 2,730 | 2,981 | 2,071 | -8% | 44% |
